Quantbot Technologies LP Purchases 17,342 Shares of Shutterstock, Inc. (NYSE:SSTK)

Quantbot Technologies LP boosted its position in Shutterstock, Inc. (NYSE:SSTK - Free Report) by 138.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,836 shares of the business services provider's stock after buying an additional 17,342 shares during the quarter. Quantbot Technologies LP owned approximately 0.09% of Shutterstock worth $1,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Truvestments Capital LLC bought a new stake in Shutterstock during the 3rd quarter valued at $31,000. Allspring Global Investments Holdings LLC boosted its stake in Shutterstock by 31,733.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 955 shares of the business services provider's stock worth $37,000 after purchasing an additional 952 shares during the period. 1620 Investment Advisors Inc. purchased a new position in Shutterstock during the 2nd quarter valued at about $41,000. Quarry LP increased its position in shares of Shutterstock by 313.0% during the second quarter. Quarry LP now owns 1,111 shares of the business services provider's stock valued at $43,000 after buying an additional 842 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Shutterstock by 69.6% in the second quarter. Nisa Investment Advisors LLC now owns 2,042 shares of the business services provider's stock worth $79,000 after buying an additional 838 shares in the last quarter. 82.79% of the stock is currently owned by institutional investors.

Shutterstock Price Performance

Shares of Shutterstock stock traded up $0.21 on Friday, hitting $31.68. 173,277 shares of the company traded hands, compared to its average volume of 373,093. Shutterstock, Inc. has a 12-month low of $28.85 and a 12-month high of $54.40. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23. The company has a market cap of $1.10 billion, a P/E ratio of 31.06 and a beta of 1.10. The firm's 50-day simple moving average is $31.87 and its 200 day simple moving average is $35.73.

Shutterstock (NYSE:SSTK - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.06 by $0.25. The firm had revenue of $250.59 million during the quarter, compared to analysts' expectations of $240.90 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The company's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.99 EPS. Analysts expect that Shutterstock, Inc. will post 3.07 earnings per share for the current fiscal year.

Shutterstock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.79%. Shutterstock's payout ratio is 117.65%.

Wall Street Analyst Weigh In

SSTK has been the topic of a number of analyst reports. StockNews.com lowered shares of Shutterstock from a "buy" rating to a "hold" rating in a report on Wednesday, October 30th. Truist Financial lowered their price objective on Shutterstock from $65.00 to $56.00 and set a "buy" rating on the stock in a research report on Wednesday, October 30th. Morgan Stanley dropped their price objective on Shutterstock from $58.00 to $50.00 and set an "equal weight" rating for the company in a research note on Monday, October 21st. Finally, Needham & Company LLC restated a "buy" rating and issued a $55.00 target price on shares of Shutterstock in a research note on Tuesday, October 29th.

Shutterstock Company Profile

Shutterstock, Inc provides platform to connect brands and businesses to high quality content in North America, Europe, and internationally. The company offers image services consisting of photographs, vectors, and illustrations, which is used in visual communications, such as websites, digital and print marketing materials, corporate communications, books, publications, and others; footage services, including video clips, filmed by industry experts and cinema grade video effects in HD and 4K formats that are integrated into websites, social media, marketing campaigns, and cinematic productions; and music services comprising music tracks and sound effects, which are used to complement images and footage.